Staff Reports
Twitter has sued businessman Elon Musk to compel him to fulfill his $44 billion promise to purchase the platform.
Twitter filed a lawsuit on Tuesday.
Musk disclosed that he was pulling out of the massive Twitter acquisition in a letter on Friday, citing the prevalence of phony accounts on the network.
Musk claimed in June that as many as 20% or more of the people on the site aren't genuine, despite the company's claim that only 5% of users are fake or bots.
In the case against him, the platform's lawyers are accusing Musk of breaching the contract.
According to the complaint, Musk appears to believe that he, and not any other party subject to Delaware contract law, has the authority to change his mind, trash the company, diminish stockholder value, interfere with its operations, and leave.
Elon Musk, CEO of Tesla, has frequently defamed Twitter and the merger since the merger deal was signed, putting Twitter's company at jeopardy and hurting its stock price.
According to reports, Elon Musk promised to give Twitter $1 billion if he backed out of the deal.
Musk tweeted a meme suggesting that Twitter would be compelled to divulge how many false accounts were identified during the trial's discovery phase after he announced he was pulling out of the agreement. That information spread widely.
The tycoon appeared to comment on the news that it was humorous and hilarious in a simple tweet on Tuesday.
According to Fox News anchor Neil Cavuto, Leeza Garber, a cybersecurity attorney, the only ones who will profit are the lawyers since they will be paid for their billable hours. Garber added that it's unlikely the court will order Musk to carry out his enormous contract.
The preceding is a summary of an article that originally appeared on NATIONAL INSIDERS.
